DHC Capital advised Swee Hong Ltd (SGX: QF6) on the super priority rescue financing pursuant to Section 211E of the Companies Act (the “Act”). The rescue financing has a Court order granting (i) security by way of a first fixed charge over unencumbered assets pursuant to Section 211E(1)(c) of the Act and (ii) in the event of a winding up, priority over all the preferential debts specified in Section 328(1)(a) to (g) of the Act and all other unsecured debts pursuant to Section 211E(1)(b) of the Act.
Read on for the Business Times article on honestbee’s proposed scheme of arrangement and injection of fresh capital from an investor consortium. DHC Capital has been appointed as independent financial advisor to honestbee.
Read on for GRR’s article on Design Studio Group Ltd (SGX: D11) filing for restructuring proceedings in Singapore and Malaysia and the appointment of legal and financial advisors. DHC Capital Partner, David Chew was appointed as Non-Executive Chairman and member of the Audit Committee and chairman of both its Remuneration Committee and Nominating Committee to provide support at the Board level for the Court-supervised restructuring.
Read on for the Business Times article and Design Studio’s announcement on the application to the High Court in Singapore for a six-month moratorium as it seeks to undergo a Court-supervised process to reorganise its liabilities. DHC Capital Partner, David Chew was appointed to the Board as Non-Executive Chairman and Independent Director of Design Studio Group Ltd (SGX: D11) to provide support at the Board level for the Court-supervised restructuring.
Read on for the Business Times article and Swee Hong’s announcement on entering into a placement agreement with CIIC Group to fund payments to its creditors under the proposed scheme of arrangement. DHC Capital has been appointed as independent financial advisor to Swee Hong Ltd (SGX: QF6).
David Chew presented at CPA Australia’s Monthly Public Practice Development Program on “Debt restructuring – Recent developments in Singapore schemes of arrangement”. The seminar was fully attended with approximately 80 participants hearing about the legislative reforms in Singapore, SGD bond restructurings, super-priority rescue financing and case studies.
David Chew has been appointed to the Board as Non-Executive Chairman, member of the Audit Committee and as chairman of the Remuneration Committee and Nominating Committee of Design Studio Group Ltd (SGX: D11) to provide support at the Board level for the Court-supervised restructuring. Read on for Design Studio’s announcement on the appointment.
Read on for the Business Times article and Viking Offshore’s announcement on entering into a conditional placement agreement with Ruddin Advisory Limited and Blue Ocean Capital Partners Pte Ltd to facilitate its court supervised debt restructuring and scheme of arrangement.
Read on for the Business Times article on Aqua Munda’s offer to buy Hyflux’s unsecured debt ahead of the proposed scheme meeting and DHC Capital's viewpoints on the merits of the debt buy-out offer.
Read on for the Business Times article on Viking Offshore entering into a term sheet with two parties to raise S$5 million in gross cash proceeds by placing out 66.5 per cent of its enlarged share base, after issuing new shares to creditors. DHC Capital has been appointed as independent financial advisor to Viking Offshore and Marine Ltd (SGX: 557).
David Chew was elected to Chartered Accountants Australia and New Zealand (“CA ANZ”) Singapore Overseas Regional Council following elections held between 27 September 2019 and 18 October 2019. The appointment as Councillor is for a term of 3 years commencing on 1 January 2020.
“With hard work and effort, you can achieve anything”
Antoine Griezmann
We are 2 years old! It’s amazing how quickly the time has passed.
We have made big strides in the last 6 months (click here to read our 18 month update) with recent high profile restructuring engagements for both public and private companies and involvement in several “firsts” in the market.
Read on for Business Times article on honestbee’s plan to enter the co-working space, strengthening its senior leadership team and DHC Capital's comments on the plan to deal with honestbee’s overseas debt.
Read on for Business Times article and honestbee’s press release on the extension of the moratorium until 31 January 2020. The extension has provided honestbee with breathing room from the threats of liquidation and legal proceedings and allows it a period of certainty to restructure its US$209 million debt that is owed to its creditors.
DHC Capital Partner and Founder David Chew will speak at a Hong Kong Institute of Certified Public Accountants (HKICPA) Restructuring and Insolvency Faculty seminar on “Debt restructuring – Recent developments in Singapore schemes of arrangement” on 8 October 2019.
DHC Capital has been recognised as an industry leader by Acquisition International with recognitions including:
Best Restructuring & Turnaround Firm 2019 – Singapore
Recognised Leaders in Capital Structure Advisory Services 2019
Read on for GRR’s article on honestbee Pte Ltd’s announcement that it will pursue a scheme of arrangement and the appointment of DHC Capital as independent financial advisor.
Read on for the Business Times article on honestbee Pte Ltd’s application to commence a Court supervised debt restructuring and the appointment of DHC Capital as independent financial advisor
Read on for the Straits Times article on honestbee Pte Ltd’s application to commence a Court supervised debt restructuring and to seek a moratorium against enforcement actions and legal proceedings by creditors and the appointment of DHC Capital as independent financial advisor.
DHC Capital has been appointed as independent financial advisor to honestbee Pte Ltd on the debt restructuring and scheme of arrangement. honestbee Pte Ltd applied to commence a Court supervised process to restructure its business and liabilities and to seek a moratorium against enforcement actions and legal proceedings by creditors pursuant to section 211B of the Companies Act. Read on for honestbee Pte Ltd’s announcement on the appointment.
Read on for GRR’s article on the debt restructuring of Viking Offshore and Marine Ltd (SGX: 557). DHC Capital acted as independent financial advisor to Viking Offshore and Marine Ltd on the debt restructuring and scheme of arrangement pursuant to Section 211 of the Companies Act.
Read on for the Business Times article on Viking Offshore and Marine Ltd’s (SGX: 557) application to commence a Court supervised debt restructuring and to seek a moratorium against enforcement actions and legal proceedings by creditors and the appointment of DHC Capital as independent financial advisor.
DHC Capital has been appointed as independent financial advisor to Viking Offshore and Marine Ltd (SGX: 557) to advise on the debt restructuring and scheme of arrangement. Viking Offshore and Marine Ltd applied to the Court to commence a Court supervised process to reorganise its liabilities and to seek a moratorium against enforcement actions and legal proceedings by creditors pursuant to section 211B of the Companies Act.
Read on for the Business Times article on Swee Hong’s 6 month moratorium extension. DHC Capital acted as independent financial advisor to Swee Hong Ltd (SGX: QF6) on the debt restructuring and scheme of arrangement pursuant to Section 211 of the Companies Act.
DHC Capital has been appointed as independent financial advisor to Swee Hong Ltd (SGX: QF6) to advise on the debt restructuring and scheme of arrangement pursuant to Section 211 of the Companies Act. Read on for Swee Hong Ltd’s announcement on the appointment.
Read on for our thought leadership article on the rescue financing provisions in Singapore, the approach adopted by the Singapore Courts, key cases (including Asiatravel.com Holdings Ltd’s successful super priority rescue financing) and the next steps in the evolution of rescue financing in Singapore.
Read on for GRR’s article on the first super priority rescue financing in Singapore. DHC Capital acted as financial advisor to Asiatravel.com Holdings Ltd on the first super priority rescue financing in Singapore.
DHC Capital advised Asiatravel.com Holdings Ltd (SGX: 5AM) on the super priority rescue financing pursuant to Section 211E(1)(b) of the Companies Act (the “Act”). The rescue financing has a Court order granting priority over all unsecured and preferential debts (as specified in Section 328(1)(a) to (g) of the Act) and is a crucial step in the restructuring of Asiatravel.com Holdings Ltd by way of a scheme of arrangement with its creditors. This is the first successful application for super priority rescue financing under Section 211E of the Act, which came into force on 23 May 2017.
"Opportunities don't happen. You create them."
Chris Grosser
I launched DHC Capital 18 months ago and I am proud of what we have achieved in this time. We set up a new firm from scratch and through hard work and being opportunistic won work in the market (click here to read our 6-month update and 1-year update). We built on this momentum and continued to expand our network.
DHC Capital acted as financial advisor to AGV Group Ltd (SGX: 1A4) regarding its negotiations with institutional lenders to extend the tenure of repayment. AGV Group Ltd successfully concluded negotiations on 4 March 2019 and entered into an agreement with institutional lenders to extend the tenure of repayment such that it is now able to continue servicing its loans with a longer repayment period.